Category: Uncategorized

The future of money is full government control and knowledge of what was spent, where it was spent, and what it was spent to purchase. And its going to happen very, very soon. Here is what the People’s Bank of China says about digital currencies: “A legal digital currency must solve this problem thoroughly, bothRead More

An important aspect of helicopter money is just how a central bank would obtain the authority to undertake such a policy. Eric Lonergan is a leading proponent of HM. As he points out, the resolution of this issue could depend on the institutional regime for the central bank in question. For example, it may beRead More

I thought we’d made peace on this topic a long time ago, but I guess not according to these comments….Against my better judgment I am going to respond to some of them…. I don’t really align myself with any particular school of economics because I believe there is enough gray area in economics that it’s dangerousRead More

“Helicopter money” (HM) is a term invented by Milton Friedman to refer to the fantasy of a monetary authority (central bank) distributing money – ex nihilo, in the absence of any related asset acquisition – as a way of stimulating aggregate demand. It’s an idea that’s permeated the blogosphere in recent months, in the wakeRead More

David Glasner has written an excellent post on how most people consider their work to be far more important than what they consume – so what our economy gains with free trade is different than what most people value in their lives. Free trade puts their jobs at risk, and they get to consume aRead More